0000928816-07-000467 Sample Contracts

PUTNAM FUNDS AMENDED AND RESTATED SUB-MANAGEMENT CONTRACT
Putnam Funds • March 29th, 2007 • Putnam High Yield Advantage Fund

Amended and Restated Sub-Management Contract dated as of December 30, 2006 between PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the "Manager") and PUTNAM INVESTMENTS LIMITED, a company organized under the laws of England and Wales (the "Sub-Manager"), amending and restating in its entirety that certain Sub-Management Contract dated as of January 1, 2006, as amended (the “Prior Agreement”), between the Manager and the Sub-Manager.

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PUTNAM HIGH YIELD ADVANTAGE FUND CLASS C DISTRIBUTION PLAN AND AGREEMENT
Distribution Plan and Agreement • March 29th, 2007 • Putnam High Yield Advantage Fund

This Plan and Agreement (the "Plan") constitutes the Distribution Plan for the Class C shares of Putnam High Yield Advantage Fund, a Massachusetts business trust (the "Trust"), adopted pursuant to the provisions of Rule 12b-1 under the Investment Company Act of 1940 (the "Act") and the related agreement between the Trust and Putnam Retail Management Limited Partnership ("PRM"). During the effective term of this Plan, the Trust may incur expenses primarily intended to result in the sale of its Class C shares upon the terms and conditions hereinafter set forth:

PUTNAM HIGH YIELD ADVANTAGE FUND CLASS R DISTRIBUTION PLAN AND AGREEMENT
Advantage Fund Class R Distribution Plan and Agreement • March 29th, 2007 • Putnam High Yield Advantage Fund

This Plan and Agreement (the "Plan") constitutes the Distribution Plan for the Class R shares of Putnam High Yield Advantage Fund, a Massachusetts business trust (the "Trust"), adopted pursuant to the provisions of Rule 12b-1 under the Investment Company Act of 1940 (the "Act") and the related agreement between the Trust and Putnam Retail Management Limited Partnership ("PRM"). During the effective term of this Plan, the Trust may make payments to PRM upon the terms and conditions hereinafter set forth:

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